White River Bancshares Co. Reports Net Income of $2.63 million, or $1.07 Per Diluted Share, for the First Quarter of 2025
White River Bancshares Company (OTCQX: WRIV) reported its strongest first quarter earnings in history, with net income increasing to $2.63 million, or $1.07 per diluted share, in Q1 2025, compared to $509,000 in Q1 2024.
Key highlights include:
- Net interest income rose 32.0% to $10.6 million
- Net interest margin increased to 3.39%
- Net loans grew 16.3% to $1.128 billion
- Total deposits increased 18.9% year-over-year to $1.201 billion
- Nonperforming loans improved to 0.04% of total loans
The Bank maintained strong capital ratios with a Total risk-based capital ratio of 12.30%, while tangible book value per common share reached $40.33. The Company recorded a $670,000 provision for credit losses due to strong quarterly loan growth.
White River Bancshares Company (OTCQX: WRIV) ha registrato il miglior risultato trimestrale della sua storia, con un utile netto che è salito a 2,63 milioni di dollari, ovvero 1,07 dollari per azione diluita, nel primo trimestre del 2025, rispetto ai 509.000 dollari del primo trimestre 2024.
Punti salienti:
- Il reddito netto da interessi è aumentato del 32,0% raggiungendo 10,6 milioni di dollari
- Il margine netto di interesse è salito al 3,39%
- I prestiti netti sono cresciuti del 16,3% arrivando a 1,128 miliardi di dollari
- I depositi totali sono aumentati del 18,9% su base annua, raggiungendo 1,201 miliardi di dollari
- I prestiti in sofferenza sono migliorati allo 0,04% del totale prestiti
La banca ha mantenuto solidi coefficienti patrimoniali con un indice di capitale totale basato sul rischio del 12,30%, mentre il valore contabile tangibile per azione ordinaria ha raggiunto 40,33 dollari. La società ha registrato una rettifica per perdite su crediti di 670.000 dollari a causa della forte crescita trimestrale dei prestiti.
White River Bancshares Company (OTCQX: WRIV) reportó sus mejores ganancias trimestrales en la historia, con un ingreso neto que aumentó a 2,63 millones de dólares, o 1,07 dólares por acción diluida, en el primer trimestre de 2025, en comparación con 509.000 dólares en el primer trimestre de 2024.
Puntos destacados:
- Los ingresos netos por intereses aumentaron un 32,0% hasta 10,6 millones de dólares
- El margen neto de intereses subió al 3,39%
- Los préstamos netos crecieron un 16,3% hasta 1.128 millones de dólares
- Los depósitos totales aumentaron un 18,9% interanual hasta 1.201 millones de dólares
- Los préstamos en mora mejoraron al 0,04% del total de préstamos
El banco mantuvo sólidos índices de capital con un índice de capital total basado en riesgo del 12,30%, mientras que el valor contable tangible por acción común alcanzó los 40,33 dólares. La compañía registró una provisión para pérdidas crediticias de 670.000 dólares debido al fuerte crecimiento trimestral de préstamos.
White River Bancshares Company (OTCQX: WRIV)는 2025년 1분기에 사상 최고 분기 실적을 기록하며 순이익이 263만 달러, 희석 주당 순이익 1.07달러로 2024년 1분기 50만 9천 달러에서 크게 증가했습니다.
주요 내용:
- 순이자수익이 32.0% 증가하여 1,060만 달러 달성
- 순이자마진이 3.39%로 상승
- 순대출금이 16.3% 증가하여 11억 2,800만 달러 기록
- 총 예금이 전년 대비 18.9% 증가하여 12억 100만 달러 도달
- 부실대출 비율이 총 대출의 0.04%로 개선
은행은 총 위험기반자본비율 12.30%로 견고한 자본 비율을 유지했으며, 보통주당 유형장부가치는 40.33달러에 달했습니다. 회사는 강한 분기별 대출 성장으로 인해 67만 달러의 신용손실충당금을 기록했습니다.
White River Bancshares Company (OTCQX: WRIV) a annoncé ses meilleurs résultats trimestriels de son histoire, avec un bénéfice net en hausse à 2,63 millions de dollars, soit 1,07 dollar par action diluée, au premier trimestre 2025, contre 509 000 dollars au premier trimestre 2024.
Points clés :
- Le produit net d’intérêts a augmenté de 32,0 % pour atteindre 10,6 millions de dollars
- La marge nette d’intérêts est passée à 3,39 %
- Les prêts nets ont progressé de 16,3 % pour atteindre 1,128 milliard de dollars
- Les dépôts totaux ont augmenté de 18,9 % en glissement annuel pour atteindre 1,201 milliard de dollars
- Les prêts non performants se sont améliorés à 0,04 % du total des prêts
La banque a maintenu de solides ratios de capital avec un ratio de capital total pondéré en fonction des risques de 12,30 %, tandis que la valeur comptable tangible par action ordinaire a atteint 40,33 dollars. La société a enregistré une provision pour pertes sur prêts de 670 000 dollars en raison d'une forte croissance trimestrielle des prêts.
White River Bancshares Company (OTCQX: WRIV) meldete das stärkste erste Quartalsergebnis in der Unternehmensgeschichte mit einem Nettogewinn von 2,63 Millionen US-Dollar bzw. 1,07 US-Dollar je verwässerter Aktie im ersten Quartal 2025, verglichen mit 509.000 US-Dollar im ersten Quartal 2024.
Wichtige Highlights:
- Nettozinserträge stiegen um 32,0 % auf 10,6 Millionen US-Dollar
- Nettozinsmarge erhöhte sich auf 3,39 %
- Netto-Darlehen wuchsen um 16,3 % auf 1,128 Milliarden US-Dollar
- Gesamteinlagen stiegen im Jahresvergleich um 18,9 % auf 1,201 Milliarden US-Dollar
- Notleidende Kredite verbesserten sich auf 0,04 % der Gesamtkredite
Die Bank hielt starke Kapitalquoten mit einer risikobasierten Gesamtkapitalquote von 12,30 %, während der materielle Buchwert je Stammaktie 40,33 US-Dollar erreichte. Das Unternehmen verbuchte aufgrund des starken Kreditwachstums im Quartal eine Rückstellung für Kreditausfälle in Höhe von 670.000 US-Dollar.
- Record quarterly earnings with net income up to $2.63 million
- 32.0% increase in net interest income to $10.6 million
- Strong loan growth of 16.3% year-over-year
- Significant deposit growth of 18.9% year-over-year
- Improved asset quality with nonperforming loans at just 0.04% of total loans
- Increased tangible book value per share to $40.33
- Increased provision for credit losses to $670,000 due to loan growth
- Net loan charge-offs of $137,000 in Q1 2025 compared to recoveries in previous quarters
- Increased interest expenses due to higher deposit costs
FAYETTEVILLE, Ark., April 15, 2025 (GLOBE NEWSWIRE) -- White River Bancshares Company (OTCQX: WRIV), (the “Company”) the holding company for Signature Bank of Arkansas (the “Bank”), today reported net income increased to
“Thanks to a solid start to the year, we produced the strongest first quarter earnings in our Bank’s history,” said Gary Head, Chairman and CEO. “Loan portfolio growth contributed to an increase in net interest income compared to the first quarter of 2024. This is exactly the kind of excitement I’ve been ‘banking on’ as we head into the second quarter and celebrate the Bank’s 20 year anniversary. I am confident in our team’s capability and enthusiasm to build upon this momentum for the rest of the year.”
“Expanding our deposit base to fund new loan growth remains our top priority, and also our biggest challenge as a community bank,” said Scott Sandlin, Chief Strategy Officer. “The Company has made deposit gathering the primary focus and our team has done an excellent job of expanding existing client relationships as well as attracting new customers to the Bank. As a result, total deposits increased
First Quarter 2025 Financial Highlights:
- Net income for the first quarter of 2025 increased to
$2.63 million , or$1.07 per diluted share, compared to$509,000 , or$0.26 per diluted share, in the first quarter of 2024. - Net interest income increased
32.0% to$10.6 million in the first quarter of 2025, compared to$8.0 million in the first quarter of 2024. - Net interest margin (“NIM”) increased 42 basis points to
3.39% in the first quarter of 2025, compared to2.97% in the first quarter of 2024. - The Company recorded a
$670,000 provision for credit losses in the first quarter of 2025, compared to a$550,000 provision in the fourth quarter of 2024, and a$648,000 provision in the first quarter of 2024. - Net loans increased
16.3% to$1.12 8 billion at March 31, 2025, compared to$969.7 million at March 31, 2024. - Nonperforming loans totaled
$420,000 , or0.04% of total loans at March 31, 2025, compared to0.18% a year ago. - Total deposits increased
$190.7 million , or18.9% , year-over-year, to$1.20 1 billion at March 31, 2025, compared to$1.01 0 billion at March 31, 2024. - Core deposits (demand and non-interest-bearing, and savings and interest-bearing transaction accounts, and CDs under
$250,000) represent70.25% of total deposits at March 31, 2025. - Total risk-based capital ratio estimates of
12.30% , Tier 1 ratio of11.05% , and Leverage ratio of9.35% for the Bank at March 31, 2025. - Tangible book value per common share was
$40.33 at March 31, 2025, compared to$39.05 a year ago.
Income Statement
In the first quarter of 2025, the Company generated a return on average assets of
“Our strong loan growth and higher yields on interest earning assets contributed to the four basis point NIM expansion during the first quarter of 2025 compared to the prior quarter and the 42 basis point increase compared to the year ago quarter,” said Brant Ward, President. NIM was
Net interest income increased
Noninterest income increased
Noninterest expense was
Balance Sheet
Total assets increased
Loans, net of allowance for credit losses, increased
Total deposits increased
FHLB advances were
Credit Quality
Due to strong quarterly loan growth, the Company recorded a
There were
“We continue to take a prudent approach to building our allowance for credit losses by monitoring our portfolio mix and evaluating loan growth and local and national economic conditions to maintain what we believe to be an appropriate allowance,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was
Net loan charge-offs were
Capital
The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of
About White River Bancshares Company
White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV), trades on the OTCQX® Best Market.
White River Bancshares Company and Signature Bank of Arkansas will celebrate its 20-year anniversary in May 2025.
About the Region
White River Bancshares Company is headquartered in thriving Northwest Arkansas in the Fayetteville-Springdale-Rogers MSA. The region is home to the corporate headquarters for Walmart Stores Inc, Sam’s Club, Tyson Foods, Simmons Foods, and J.B. Hunt Transport. Hundreds of other market-leading companies including Procter & Gamble, Johnson & Johnson, Coca-Cola and Rubbermaid maintain offices in the region in order to maintain their relationships with the locally based Fortune 500 companies. Northwest Arkansas is also home to the state’s flagship public educational institution, The University of Arkansas, and its Sam M. Walton College of Business. The region has seen significant growth in its medical and arts infrastructures with the continued expansion of Washington Regional Medical System, Northwest Medical System, Mercy Health System of Northwest Arkansas and Arkansas Children’s Hospital Northwest. Crystal Bridges Museum of American Art and the Walton Arts Center have led the expansion of the arts. Northwest Arkansas has been repeatedly recognized in recent years as one of the best places to live in the country and remains one of the nation’s fastest-growing regions. In May 2024, Walmart issued a relocation mandate requiring most of its remote employees, as well as most of its office workers in Dallas, Atlanta and Toronto to move to, in most cases, Bentonville by November 1, 2024. While the company did not disclose a number, Bloomberg reported that the number of Walmart employees who would be moving to Bentonville would be in the thousands. Walmart is making a major investment in its hometown facilities, building a new, 350-acre headquarters campus, including walking and biking trails, a hotel, fitness facilities and a large childcare center.
The Company has expanded eastward, with new markets in Jonesboro and Harrison. Jonesboro, located in Craighead County, is a city located on Crowley's Ridge in the northeastern corner of Arkansas. It is the home of Arkansas State University and the cultural and economic center of Northeast Arkansas. Jonesboro also houses the region’s hospital network. U.S. Steel Corp. announced that it would locate a new
The Company currently operates out of ten locations; three in Washington County; three in Benton County; two in Monroe County; one in Boone County; and one in Craighead County.
The housing market in Washington and Benton counties remains robust. According to the Northwest Arkansas Board of Realtors, the average home in Washington County sold for
Source:
http://www.nwarealtors.org/market-statistics/
Forward Looking Statements
This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain, and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for loan losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
| Contact: | Scott Sandlin, Chief Strategy Officer | |
| 479-684-3754 |
| WHITE RIVER BANCSHARES COMPANY | |||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||||
| (Unaudited) | |||||||||||
| For the Three Months Ended | |||||||||||
| March 31, | December 31, | March 31, | |||||||||
| 2025 | 2024 | 2024 | |||||||||
| INTEREST INCOME | |||||||||||
| Loans, including fees | $ | 18,315,006 | $ | 17,118,955 | $ | 14,994,922 | |||||
| Investment securities | 1,258,571 | 1,300,977 | 929,040 | ||||||||
| Federal funds sold and other | 232,978 | 262,856 | 96,154 | ||||||||
| Total interest income | 19,806,555 | 18,682,788 | 16,020,116 | ||||||||
| INTEREST EXPENSE | |||||||||||
| Deposits | 8,312,455 | 7,963,925 | 6,984,793 | ||||||||
| Federal Home Loan Bank advances | 393,057 | 300,137 | 520,319 | ||||||||
| Notes payable | 475,425 | 396,899 | 398,017 | ||||||||
| Federal funds purchased and other | 13,022 | 4,101 | 78,260 | ||||||||
| Total interest expense | 9,193,959 | 8,665,062 | 7,981,389 | ||||||||
| NET INTEREST INCOME | 10,612,596 | 10,017,726 | 8,038,727 | ||||||||
| Provision for credit losses | 670,000 | 550,000 | 648,000 | ||||||||
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 9,942,596 | 9,467,726 | 7,390,727 | ||||||||
| NON-INTEREST INCOME | |||||||||||
| Service charges and fees on deposits | 171,186 | 182,870 | 150,349 | ||||||||
| Wealth management fee income | 1,017,829 | 1,035,160 | 845,506 | ||||||||
| Secondary market fee income | 128,824 | 196,277 | 57,064 | ||||||||
| Bank owned-life insurance income | 80,603 | 82,171 | 79,881 | ||||||||
| Gain on sales and write-downs of foreclosed assets | - | 11,085 | 1,050 | ||||||||
| Other | 544,141 | 535,284 | 449,255 | ||||||||
| TOTAL NON-INTEREST INCOME | 1,942,583 | 2,042,847 | 1,583,105 | ||||||||
| NON-INTEREST EXPENSE | |||||||||||
| Salaries and benefits | 4,931,692 | 5,226,075 | 4,999,533 | ||||||||
| Occupancy and equipment | 1,145,101 | 1,130,174 | 928,124 | ||||||||
| Data processing | 858,115 | 806,411 | 790,569 | ||||||||
| Marketing and business development | 397,137 | 518,628 | 463,697 | ||||||||
| Professional services | 650,708 | 660,860 | 669,867 | ||||||||
| Amortization of other intangible assets | 53,036 | 53,032 | 53,036 | ||||||||
| Other | 393,498 | 445,998 | 403,836 | ||||||||
| TOTAL NON-INTEREST EXPENSE | 8,429,287 | 8,841,178 | 8,308,662 | ||||||||
| Income before income taxes | 3,455,892 | 2,669,395 | 665,170 | ||||||||
| Income tax provision | 826,085 | 834,444 | 155,942 | ||||||||
| NET INCOME | $ | 2,629,807 | $ | 1,834,951 | $ | 509,228 | |||||
| EARNINGS PER SHARE | |||||||||||
| Basic (1) | $ | 1.07 | $ | 0.75 | $ | 0.26 | |||||
| Diluted (1) | $ | 1.07 | $ | 0.75 | $ | 0.26 | |||||
| (1) | Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024. | ||||||||||
| WHITE RIVER BANCSHARES COMPANY | ||||||||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||||||||
| (Unaudited) | ||||||||||||||
| March 31, 2025 | December 31, 2024 | March 31, 2024 | ||||||||||||
| ASSETS | ||||||||||||||
| Cash and cash equivalents | $ | 48,360,156 | $ | 22,149,012 | $ | 33,147,221 | ||||||||
| Investment securities | 134,968,153 | 133,228,210 | 113,033,028 | |||||||||||
| Loans held for sale | 874,009 | 1,117,750 | 696,271 | |||||||||||
| Loans | 1,141,369,199 | 1,076,674,377 | 981,829,042 | |||||||||||
| Allowance for credit losses | (13,347,855 | ) | (12,814,824 | ) | (12,113,099 | ) | ||||||||
| Net loans | 1,128,021,344 | 1,063,859,553 | 969,715,943 | |||||||||||
| Premises and equipment, net | 35,647,835 | 36,335,828 | 29,442,303 | |||||||||||
| Foreclosed assets held for sale | 310,406 | 310,406 | 640,574 | |||||||||||
| Accrued interest receivable | 6,629,881 | 6,035,084 | 4,966,665 | |||||||||||
| Bank owned life insurance | 9,859,911 | 9,779,307 | 9,534,373 | |||||||||||
| Deferred income taxes | 4,220,559 | 4,390,227 | 4,888,369 | |||||||||||
| Other investments | 6,782,614 | 8,421,651 | 7,548,338 | |||||||||||
| Intangible assets, net | 1,750,204 | 1,803,240 | 1,962,350 | |||||||||||
| Other assets | 1,825,830 | 2,080,346 | 1,323,255 | |||||||||||
| TOTAL ASSETS | $ | 1,379,250,902 | $ | 1,289,510,614 | $ | 1,176,898,690 | ||||||||
| LIABILITIES & STOCKHOLDERS' EQUITY | ||||||||||||||
| Deposits: | ||||||||||||||
| Demand and non-interest-bearing | $ | 231,331,391 | $ | 214,838,920 | $ | 233,082,292 | ||||||||
| Savings and interest-bearing transaction accounts | 456,733,576 | 429,293,348 | 339,042,365 | |||||||||||
| Time deposits | 512,882,444 | 448,909,115 | 438,110,170 | |||||||||||
| Total deposits | 1,200,947,411 | 1,093,041,383 | 1,010,234,827 | |||||||||||
| Federal Home Loan Bank advances | 21,593,143 | 43,667,559 | 36,887,028 | |||||||||||
| Notes payable | 26,141,832 | 26,124,556 | 26,337,909 | |||||||||||
| Operating lease liability | 20,029,714 | 20,851,721 | 16,128,536 | |||||||||||
| Reserve for losses on unfunded commitments | 1,478,000 | 1,478,000 | 1,433,000 | |||||||||||
| Accrued interest payable | 2,731,699 | 2,838,298 | 2,635,771 | |||||||||||
| Other liabilities | 5,798,159 | 4,919,715 | 3,868,383 | |||||||||||
| TOTAL LIABILITIES | 1,278,719,958 | 1,192,921,232 | 1,097,525,454 | |||||||||||
| Stockholders' equity: | ||||||||||||||
| Common stock (1) | 24,882 | 24,854 | 20,162 | |||||||||||
| Surplus (1) | 102,784,831 | 102,679,096 | 90,538,459 | |||||||||||
| Retained earnings (accumulated deficit) | 4,714,375 | 2,084,568 | (3,115,687 | ) | ||||||||||
| Treasury stock, at cost | (1,265,731 | ) | (1,265,715 | ) | (1,119,100 | ) | ||||||||
| Accumulated other comprehensive loss | (5,727,413 | ) | (6,933,421 | ) | (6,950,598 | ) | ||||||||
| TOTAL STOCKHOLDERS' EQUITY | 100,530,944 | 96,589,382 | 79,373,236 | |||||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 1,379,250,902 | $ | 1,289,510,614 | $ | 1,176,898,690 | ||||||||
| (1) | Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024. | |||||||||||||
| WHITE RIVER BANCSHARES COMPANY | ||||||||||||||
| SUPPLEMENTAL INFORMATION | ||||||||||||||
| (Unaudited) | ||||||||||||||
| Three Months Ended | ||||||||||||||
| March 31, | December 31, | March 31, | ||||||||||||
| 2025 | 2024 | 2024 | ||||||||||||
| FOR THE PERIOD | ||||||||||||||
| Net income | $ | 2,629,807 | $ | 1,834,951 | $ | 509,228 | ||||||||
| Net income before taxes | 3,455,892 | 2,669,395 | 665,170 | |||||||||||
| Dividends declared per share (1) | - | - | - | |||||||||||
| PERIOD END BALANCE | ||||||||||||||
| Total assets | $ | 1,379,250,902 | $ | 1,289,510,614 | $ | 1,176,898,690 | ||||||||
| Total investments | 134,968,153 | 133,228,210 | 113,033,028 | |||||||||||
| Total loans, net | 1,128,021,344 | 1,063,859,553 | 969,715,943 | |||||||||||
| Allowance for credit losses | (13,347,855 | ) | (12,814,824 | ) | (12,113,099 | ) | ||||||||
| Total deposits | 1,200,947,411 | 1,093,041,383 | 1,010,234,827 | |||||||||||
| Stockholders' equity | 100,530,944 | 96,589,382 | 79,373,236 | |||||||||||
| RATIO ANALYSIS | ||||||||||||||
| Return on average assets (annualized) | 0.79 | % | 0.58 | % | 0.18 | % | ||||||||
| Return on average equity (annualized) | 10.64 | % | 7.34 | % | 2.52 | % | ||||||||
| Net loans/Deposits | 93.93 | % | 97.33 | % | 95.99 | % | ||||||||
| Total Stockholders' Equity/Total assets | 7.29 | % | 7.49 | % | 6.74 | % | ||||||||
| Net loan losses/Total loans | 0.01 | % | -0.01 | % | -0.00 | % | ||||||||
| Uninsured & unpledged deposits | 31.00 | % | 31.78 | % | 30.22 | % | ||||||||
| PER SHARE DATA | ||||||||||||||
| Shares oustanding (1) | 2,449,317 | 2,446,563 | 1,982,630 | |||||||||||
| Weighted average shares outstanding (1) | 2,446,747 | 2,446,241 | 1,983,378 | |||||||||||
| Diluted weighted average shares outstanding (1) | 2,451,161 | 2,446,471 | 1,983,378 | |||||||||||
| Basic earnings (1) | $ | 1.07 | $ | 0.75 | $ | 0.26 | ||||||||
| Diluted earnings (1) | 1.07 | 0.75 | 0.26 | |||||||||||
| Book value (1) | 41.04 | 39.48 | 40.03 | |||||||||||
| Tangible book value (1) | 40.33 | 38.74 | 39.05 | |||||||||||
| ASSET QUALITY | ||||||||||||||
| Net (recoveries) charge-offs | $ | 136,970 | $ | (106,340 | ) | $ | (21,195 | ) | ||||||
| Classified assets | 853,745 | 494,828 | 2,657,273 | |||||||||||
| Nonperforming loans | 419,985 | 55,132 | 1,718,805 | |||||||||||
| Nonperforming assets | 730,391 | 365,538 | 2,359,378 | |||||||||||
| Total nonperforming loans/Total loans | 0.04 | % | 0.01 | % | 0.18 | % | ||||||||
| Total nonperforming loans/Total assets | 0.03 | % | 0.00 | % | 0.15 | % | ||||||||
| Total nonperforming assets/Total assets | 0.05 | % | 0.03 | % | 0.20 | % | ||||||||
| Allowance for credit losses/Total loans | 1.17 | % | 1.19 | % | 1.23 | % | ||||||||
| (1) | Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024. | |||||||||||||
| WHITE RIVER BANCSHARES COMPANY | |||||||||||||||||||||||||||||
| INTEREST INCOME AND EXPENSE | |||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||
| March 31, | December 31, | March 31, | |||||||||||||||||||||||||||
| 2025 | 2024 | 2024 | |||||||||||||||||||||||||||
| Average | Average | Average | Average | Average | Average | ||||||||||||||||||||||||
| Balance | Interest | Yield/Rate | Balance | Interest | Yield/Rate | Balance | Interest | Yield/Rate | |||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||
| Federal funds sold and other | $ | 23,287,989 | $ | 232,978 | 4.06 | % | $ | 20,998,114 | $ | 262,856 | 4.98 | % | $ | 8,343,674 | $ | 96,154 | 4.63 | % | |||||||||||
| Investment securities available-for-sale (1) | 133,405,472 | 1,208,821 | 3.67 | % | 132,386,055 | 1,150,282 | 3.46 | % | 114,440,538 | 900,886 | 3.17 | % | |||||||||||||||||
| Loans receivable | 1,106,648,533 | 18,315,006 | 6.71 | % | 1,018,919,798 | 17,118,955 | 6.68 | % | 960,808,253 | 14,994,922 | 6.28 | % | |||||||||||||||||
| Total interest-earning assets | 1,263,341,994 | $ | 19,756,805 | 6.34 | % | 1,172,303,967 | $ | 18,532,093 | 6.29 | % | 1,083,592,465 | $ | 15,991,962 | 5.94 | % | ||||||||||||||
| Noninterest-earning assets | 81,821,189 | 81,203,717 | 70,720,928 | ||||||||||||||||||||||||||
| Total assets | $ | 1,345,163,183 | $ | 1,253,507,684 | $ | 1,154,313,393 | |||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||
| Interest-bearing deposits | $ | 937,669,969 | $ | 8,312,455 | 3.60 | % | $ | 847,808,178 | $ | 7,963,925 | 3.74 | % | $ | 762,899,599 | $ | 6,984,793 | 3.68 | % | |||||||||||
| FHLB advances and federal funds purchased | 36,654,930 | 406,079 | 4.49 | % | 28,097,088 | 304,238 | 4.31 | % | 50,749,219 | 598,579 | 4.74 | % | |||||||||||||||||
| Notes payable | 26,131,761 | 475,425 | 7.38 | % | 26,118,547 | 396,899 | 6.05 | % | 25,489,325 | 398,017 | 6.28 | % | |||||||||||||||||
| Total interest-bearing liabilities | 1,000,456,660 | $ | 9,193,959 | 3.73 | % | 902,023,813 | $ | 8,665,062 | 3.82 | % | 839,138,143 | $ | 7,981,389 | 3.83 | % | ||||||||||||||
| Noninterest-bearing liabilities | 244,466,979 | 252,089,008 | 233,847,965 | ||||||||||||||||||||||||||
| Total liabilities | 1,244,923,639 | 1,154,112,821 | 1,072,986,108 | ||||||||||||||||||||||||||
| Stockholders' equity | 100,239,544 | 99,394,863 | 81,327,285 | ||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 1,345,163,183 | $ | 1,253,507,684 | $ | 1,154,313,393 | |||||||||||||||||||||||
| Net interest-earning assets | $ | 262,885,334 | $ | 270,280,154 | $ | 244,454,322 | |||||||||||||||||||||||
| Net interest spread | $ | 10,562,846 | 2.62 | % | $ | 9,867,031 | 2.47 | % | $ | 8,010,573 | 2.11 | % | |||||||||||||||||
| Net interest margin | 3.39 | % | 3.35 | % | 2.97 | % | |||||||||||||||||||||||
| (1) | Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares). | ||||||||||||||||||||||||||||
FAQ
What was WRIV's net income for Q1 2025?
How much did WRIV's deposits grow in Q1 2025?
What is WRIV's current loan quality status as of Q1 2025?
How much did WRIV's net interest income grow in Q1 2025?
What is WRIV's current tangible book value per share?
